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    Advanced Accounting Concepts and Practice
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    Exam 16: Translating Foreign Currency Statements: The Temporal Method and the Functional Currency Concept
  5. Question
    Under FAS 52, the Effect of an Exchange Rate Change
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Under FAS 52, the Effect of an Exchange Rate Change

Question 67

Question 67

True/False

Under FAS 52, the effect of an exchange rate change is always reported in Other Comprehensive Income if the foreign currency is the functional currency.

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